Citigroup Issues Pessimistic Forecast for Advanced Micro Devices (NASDAQ:AMD) Stock Price

Advanced Micro Devices (NASDAQ:AMD) had its target price reduced by analysts at Citigroup from $210.00 to $200.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price target would indicate a potential upside of 38.82% from the stock’s current price.

Several other brokerages also recently weighed in on AMD. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Monday. Wedbush restated an “outperform” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Morgan Stanley cut their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a report on Wednesday. Piper Sandler restated an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday. Finally, Barclays cut their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Price Performance

AMD stock opened at $144.07 on Wednesday. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $232.86 billion, a PE ratio of 211.87, a P/E/G ratio of 2.33 and a beta of 1.70. Advanced Micro Devices has a 12-month low of $94.07 and a 12-month high of $227.30. The business’s fifty day moving average price is $155.01 and its 200 day moving average price is $155.94.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. On average, sell-side analysts anticipate that Advanced Micro Devices will post 2.56 EPS for the current year.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently modified their holdings of AMD. Cherrydale Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 4.7% in the second quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after acquiring an additional 58 shares during the last quarter. Christopher J. Hasenberg Inc grew its position in shares of Advanced Micro Devices by 12.0% in the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after purchasing an additional 60 shares during the period. Delta Financial Group Inc. grew its position in shares of Advanced Micro Devices by 5.0% in the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock valued at $215,000 after purchasing an additional 63 shares during the period. Trivant Custom Portfolio Group LLC grew its position in shares of Advanced Micro Devices by 0.3% in the second quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock valued at $3,995,000 after purchasing an additional 65 shares during the period. Finally, Wealth Effects LLC grew its position in shares of Advanced Micro Devices by 0.7% in the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after purchasing an additional 65 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.